The rapid rise in imports of heavy plate from China is hurting already suffering domestic steelmakers in the country, according to the South Korean Iron and Steel Association (KOSA). Imports from China account for over 60 percent of Korea's total imports.
According to KOSA statistics, imports of steel plates by the country in the first six months of this year amounted to 1.66 million tonnes, up 24 percent from imports during the corresponding period in 2013, when imports from China were 1.01 million. tons.
The number of steel plates imported from China for shipbuilding and other industries recorded a huge surge in the first half of this year. China's shipbuilding steel plate imports were up 36 percent from the previous year. Chinese steel plates for the rest of the industries accounted for 80 percent of the country's heavy plate imports.
KOSA blamed China for lower sales of its products in Korean markets due to cheap imports. In addition, domestic thick steel pipes are sold for 900 thousand won per ton, and the average price for plates from China is in the range of 500 thousand to 600 thousand won per ton. There are already losses in the shipbuilding industry, which is clearly attracted by cheaper Chinese goods, according to KOSA.
Plate imports from China hurt South Korean industry - KOSA
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Azovpromstal® 4 August 2014 г. 17:13 |
